The total market value of global cryptocurrencies was up 25% since Tuesday, according to CoinMarketCap.com, to $488.82 billion. Bitcoin, which makes up about 35% of that total, was up 6% – or nearly $2,000- to $8,183, according to Markets Insider data.

Ethereum and Ripple’s XRP, the second- and third-largest cryptocurrencies, were both up 3% at the time of writing.

Bitcoin bottomed out below $6,000 this week, and prices of all cryptocurrencies plunged, fueled by fears of a cryptocurrency crackdown in India after the country’s finance minister said the government would not recognize crypto as a legitimate form of currency.

So far, 2018 has been marked by wild price swings for all cryptocurrencies, often more than 10% in either direction in a matter of hours. In January alone, bitcoin traded as high as $19,843, and as low as $5,946.

“The high correlation between the different crypto currencies worries me,” Steve Strongin said. “Contrary to what one would expect in a rational market, new currencies don’t seem to reduce the value of old currencies; they all seem to move as a single asset class.”